Acquisition of state’s share in Rompetrol Rafinare, maybe this year

The Rompetrol Group expects to complete in 2014 the acquisition of the 26 percent share of the Romanian state in Rompetrol Rafinare, the group’s senior vice president Azamat Zhangulov said yesterday at a conference on Romanian exports. ‘We have discussed this last week with the minister of energy, Mr. Constantin Nita, and we hope to complete by end-July a short-term action plan. We hope and expect to carry out the procedures this year,’ declared Zhangulov.

Asked whether he knows any other company interested in the purchase of state’s share of 26 per cent in Rompetrol Rafinare, Zhangulov answered, competition is welcome, but his group’s offer will not change. According to him, Rompetrol has already launched the projects to which it committed in a memorandum with the Romanian state.

Rompetrol has already identified two major projects worth USD 350 million under the memorandum, namely the building of a cogeneration station on the Petromidia platform in southeastern Romania, and the extension of Rompetrol’s network of gas stations in Romania. The latter is expected to have a positive impact on the local communities, by directly creating 2,000 jobs and through the revenues generated by investments.